As we enter the new decade, IQ caught up with leaders from the global live music business to reflect upon the development of the industry over the past ten years, as well as looking forward to what we can expect in the 2020s.
Following yesterday’s Q&A with UTA’s Neil Warnock, in the hot seat today is Jay Marciano, COO of AEG and chairman/CEO of AEG Presents. IQ quizzes him on the biggest changes of the 2010s and his personal highlights, as well as the venue of the future…
IQ: This decade is ending with a long list of new buildings slated for development internationally. What does the venue of the next decade look like?
JM: Form follows function.
From the artist’s perspective: Robust production capabilities, flexible, artist-friendly features.
From the fan’s perspective: Emphasis on a warm environment that has great audio fidelity, superior service, multiple food and drink options, features for every price point.
Consolidation has been a constant theme of this decade. Looking ahead, how do you see the balance between the industry’s key corporations and the remaining independent players?
The major companies need to provide excellent administrative functions, build out and maintain ticketing and digital marketing capabilities, and provide growth capital in an environment that allows our promoters to provide artists and audiences with the excellent personalised and creative service that independents are known for.
What, in your opinion, are the most significant developments (positive and/or negative) in the live music industry over the past ten years?
Unlocking what was, for four decades, a static box-office gross. Dynamic price points which allows artists to fully capture the true gross at all levels.
Streaming has helped artists create global fan bases in ways we never dreamed of
Digital marketing, data capture and mobile ticketing. We are on the precipice of a truly personalised marketing and ticketing experience that will benefit the concertgoer while creating new revenue opportunities and increasing consumption.
Streaming. This has already helped create more new artists than any other time in the history of pop music. Streaming has helped artists create global fan bases in ways we never dreamed of just ten years ago.
What are your own personal highlights from the last decade?
The sheer amount of new talent. It has been exhilarating just trying to keep up!
Looking ahead, what do you perceive will be the biggest challenges for the live music sector in the 2020s?
Any downturn in the global economy.
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